appraisalupdate

For insurance purposes, in general your appraisal should be updated every four or five years. However, certain items should be appraised on a two years basis, as was the case for a client's collection of group of seven paintings. This only makes sense for items whose values are skyrocketing, i.e. Tom Thompson painting recently auctioned for close to 2 million Canadian that being more than double its estimated value.

We will provide you with an update service, without the necessity of us returning to your residence, unless you have new items to add to your appraisal. Since we do not have to go to your residence, the cost of an update is significantly less than it is for a new appraisal. Please make sure that we have your correct that we have your correct address and phone number. Also ket us know of any items that you no longer possess. Once again you will recieve a written appraisal plus a cd containing an Adobe file (read-only, PDF format). Of course the official copy shall be your paper copy, as signed by us.

Note: If you previous appraisal was performed before 2001, we may or may not have a copy. We apologize for any inconveniences that this may cause.

.An appraisal update starts at $75 up until half an hour, e.g., an update of 3 or 4 items can usually be done in under 30 minutes. After that we go by the hourly rate ($125/hr).

We still charge $125 Canadian per hour for our time if we have to come to your location. Understandably, the exact cost on a per item basis does vary, depending upon the item. In general, our rate for an appraisal update is less than half of that for a new appraisal. Accordingly, when we are appraising numerous items (i.e. fifty) the approximate costs breaks down to be 15 items per hour for updates.

If you have new items to be added to your appraisal, then we still must treat the new items, as such, and we must come to your residence and examine these items. Since your updated items will still be appraised at a significantly faster rate, this will be refllected in your reduced overall cost.

Note: The above estimates are assuming that you are updating in a reasonable time frame (i.e. two to seven years). If your last appraisal was performed a substancially long time ago, then expect to pay a bit more. Remember: We never overcharge, and if anything we undercharge, in order to protect you the client.

Most updates can be order by phone or email (click contact us). If we have to go to your residence to add more items then travel costs still apply, those being: For clients in Ottawa, and the immediate area we do not charge for travel. For clients a considerable distance from Ottawa, we do charge $60/hr for travel, after the first half hour from the outskirts of Ottawa.

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